PPI Tax Refund

shaz1000

Arnisdale said:

shaz1000 said:

Martin said that PPI payments were taxed and they weren't meant to be and could be claimed back.That is what I have done.

Do you have a link to where you saw him state that?

No.It was I while ago he talked about it.I applied for it back in July 2020 and and the tax office processed it but did not pay it. I chased it up recently and they said it had been missed. Anyway now I have it.

shaz1000

Martin regularly talks about stuff like this on TV, it's not unlikely he would have provided a simplified response along the lines of "if you were paid a PPI refund you may be due a tax refund" - he could have made it clearer, I don't know, I don't watch his shows. OP might have assumed that he meant there was a tax refund on the whole PPI payout because they didn't follow the story fully or caught the end of it or whatever.

https://blog.moneysavingexpert.com/2019/04/martin-lewis--had-a-ppi-payout---if-so-you-can-reclaim-the-tax-o/

Deleted_User said:

Arnisdale said:

shaz1000 said:

Martin said that PPI payments were taxed and they weren't meant to be and could be claimed back.That is what I have done.

Do you have a link to where you saw him state that?

Martin regularly talks about stuff like this on TV, it's not unlikely he would have provided a simplified response along the lines of "if you were paid a PPI refund you may be due a tax refund" - he could have made it clearer, I don't know, I don't watch his shows. OP might have assumed that he meant there was a tax refund on the whole PPI payout because they didn't follow the story fully or caught the end of it or whatever.
https://blog.moneysavingexpert.com/2019/04/martin-lewis--had-a-ppi-payout---if-so-you-can-reclaim-the-tax-o/

Thanks for your very helpful post.

BertLionel

Wondered if anyone can help? have found the tax taken from 2018 & 2019 when I received my PPI refunds however I understand I cannot use the R40 form as I am on the higher rate tax and complete a self assessment every year. How do I can claim this back as my assessments for those tax years have already been submitted and relevant tax paid?

Dazed_and_C0nfused

BertLionel said:

Wondered if anyone can help? have found the tax taken from 2018 & 2019 when I received my PPI refunds however I understand I cannot use the R40 form as I am on the higher rate tax and complete a self assessment every year. How do I can claim this back as my assessments for those tax years have already been submitted and relevant tax paid?

Do you mean you have filed Self Assessment returns with some taxable income (interest) omitted??

Which tax year(s)?

2017:18
2018:19
2019:20

BertLionel

Dazed_and_C0nfused said:

BertLionel said:

Wondered if anyone can help? have found the tax taken from 2018 & 2019 when I received my PPI refunds however I understand I cannot use the R40 form as I am on the higher rate tax and complete a self assessment every year. How do I can claim this back as my assessments for those tax years have already been submitted and relevant tax paid?

Do you mean you have filed Self Assessment returns with some taxable income (interest) omitted??

Which tax year(s)?

2017:18
2018:19
2019:20

Dazed_and_C0nfused said:

BertLionel said:

Wondered if anyone can help? have found the tax taken from 2018 & 2019 when I received my PPI refunds however I understand I cannot use the R40 form as I am on the higher rate tax and complete a self assessment every year. How do I can claim this back as my assessments for those tax years have already been submitted and relevant tax paid?

Do you mean you have filed Self Assessment returns with some taxable income (interest) omitted??

Which tax year(s)?

2017:18
2018:19
2019:20

2017:18 & 2018:19

BertLionel

2017:18 & 2018:19

Dazed_and_C0nfused

2017:18 is out of date and 2018:19 will be out of date after tomorrow.

For 2018:19 you would have to make a claim for overpayment relief.l but time is not on your side.

https://www.gov.uk/self-assessment-tax-returns/corrections